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  4. GTE 4.70% 48M Jumbo CD Or 4.90% NASA 49M CD?

GTE 4.70% 48M Jumbo CD Or 4.90% NASA 49M CD?

EdwardD
  |     |   77 posts since 2023

I am having a hard time making a choice between the two options to fill 4 year ladder. I am already a member at both credit unions.

GTE 48 month jumbo CD at 4.70% (EWP 180d), or

NASA 49 month CD at 4.90% (i have rate lock before rate drop) but EWP 365 days

What would you pick and the reason one vs the other?

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1


Answers
SouthernGirl
  |     |   210 posts since 2022
EdwardD,
GTE 48 month jumbo CD at 4.70% APY (EWP 180d or the lesser of all dividends earned if closed prior to 180 days). GTE allowed conversion to a higher rate with no EWP. Nasa would not allow conversion to a higher rate with no EWP. Nasa has a greater EWP. Both are compounded monthly.
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2
EdwardD
  |     |   77 posts since 2023
Can you withdraw GTE dividends accumulated in the CD at ANYTIME without penalty if I let the monthly dividends credited back to the CD instead of crediting to GTE savings?
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1
SouthernGirl
  |     |   210 posts since 2022
EdwardD,
Yes. "Interest can be withdrawn before maturity." I know from 2017 thru 2022, there was no penalty on interest. New share certificate disclosure dated January 30, 2023, does not specifically state there is no penalty on interest. Please clarify with a CD specialist and always write down the name with your notes.
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1
hiyield
  |     |   41 posts since 2017
I wasn't aware about no-EWP rates upgrade @GTE.
This is good to know. thank you.
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2
SouthernGirl
  |     |   210 posts since 2022
Hiyeld,
There is a process to insure no EWP on the older CD with GTE. Please read the two discussions "GTE won't waive EWP and GTE Early Withdrawal Penalty". Do not mention the word penalty. Basically, call extension # 40453 and withdraw all of your interest earned and accrued interest to the savings account. Next day, ask for the closing withdrawal amount and that should be the principal amount. Close the cd and deposit into savings. Ask GTE to open the CD at the higher rate and term. Please feel free to send me a private message.
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1
JeffinEasternFL
  |     |   744 posts since 2020
University CU (Austin, TX) just recently had 48 mos at 5.0% APY, I grabbed it to fill my ladder for CY '27, you should check if still available!
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2
fed10017
  |     |   20 posts since 2023
UFCU just slashed the 48 month term from 5% to 3.5%. Falling treasury yields taking a toll fast and furious.
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6
Ltssharon
  |     |   471 posts since 2020
With rates tumbling, get the fastest one, hopefully it will also have the lowest ewp.
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2
sams1985
  |     |   781 posts since 2022
The GTE jumbo is 4.8%* APY.
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1
EdwardD
  |     |   77 posts since 2023
sams1985, GTE Jumbo 4.8% APY is for 5 year CD. The 4 year jumbo CD APY is 4.70%.
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2
sams1985
  |     |   781 posts since 2022
Oh, sorry I must have been asleep. I vote GTE too. Their ewp is insanely flexible.
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